Let’s take a look at some stocks making moves yesterday! In retail, Gap and Footlocker ended the day in the green, similar to technology’s Microsoft, which is also making gains. So what’s going on?
Let’s take a look!
Stocks Making Moves Yesterday: GAP (NYSE:GPS)
Apparel giant GAP beat its Q2 earnings estimates by 4 cents a share. Its earnings came in at $0.76 a share and it showed an overall revenue increase of 8% to $4.1085 billion. GAP also owns brands Old Navy and Banana Republic. Both brands saw same-store sales rise by 5% and 2% respectively. However, GAP comps sank 5%, as the GAP chain itself continues to struggle.
The overall results, though, have put the company in a positive space and at the close yesterday, its share price gained 0.71%.
Foot Locker (NYSE:FL)
Also announcing Q2 results was New York-based athletic retailer Footlocker. Earlier today, the company detailed that up until August 4th, income stood at $88 million, or $0.75 per share. Comparatively to fiscal 2017, this showed a massive increase from a net income of $51 million, or $0.39 per share in the same period. Q2 also saw the company open 13 new stores, relocate 33 stores and close a total of 21 stores.
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Chairman and CEO Richard Johnson stated:
“Our performance reflects the work we are doing on several fronts to position the Company to succeed in a rapidly evolving retail environment.”
FL shares saw a high of $53.36 USD in yesterday’s trade—presumedly because of positive predictions for the Q2 results—however, shortly before the close, the stock dipped to $53.20. Overall for the day, however, the stock made gains of 2.59%.
Microsoft (NASDAQ:MSFT)
Microsoft stock went on a bit of a roller coaster ride yesterday. The stock opened at $107.24 but closed at $107.56, representing a gain of 1.56%. Throughout the day though, it looked like it could swing either way for this share. The company is in the news at the moment as it is being investigated by the Justice Department and the SEC over software sales in Hungary.
What will Friday’s trade bring for these stocks? We will have to wait and see if the gains continue.
Featured Image: Deposit Photos/Antartis
